one world money

[james34]

NYSE to merge with German market http://gothamist.com/2011/02/10/germ...to_buy_the.php

[pelathais]

How is this "One World Money?" These are two stock exchanges. They deal in the sale and trading of stocks issued to fund private business activities. Neither exchange is operating particularly efficiently at the moment. As the various news articles have pointed out, electronic trading as eliminated most of the standard work that was done within a stock market. Consolidation makes sense. And, the current global regime of foreign currencies isn't even affected by any of this.

[TJJJ]

Originally Posted by pelathais

How is this "One World Money?" These are two stock exchanges. They deal in the sale and trading of stocks issued to fund private business activities. Neither exchange is operating particularly efficiently at the moment. As the various news articles have pointed out, electronic trading as eliminated most of the standard work that was done within a stock market. Consolidation makes sense. And, the current global regime of foreign currencies isn't even affected by any of this.

Pel!

Please quit muddying this up with logic!

[Ferd]

anyone familar with the forex market knows there is just too much money being made by the money people to get rid of multiple currencies.

[Ferd]

Not to mention the problems with the EU right now. That itself is proof that a single currency is a very difficult prospect.

[aegsm76]

We are further down the road to a one world economic system than we were 5 years ago.
But, more work needs to be done to lower the standard of living in the larger economies to accomplish this.

[coadie]

Originally Posted by aegsm76

We are further down the road to a one world economic system than we were 5 years ago.
But, more work needs to be done to lower the standard of living in the larger economies to accomplish this.

I suggest the new Obama 3 dollar bill. It is worth 2 dollars.

Today we actually have a few countries wanting to leave the euro.

[pelathais]

Originally Posted by coadie

I suggest the new Obama 3 dollar bill. It is worth 2 dollars.

Today we actually have a few countries wanting to leave the euro.

Despite the advantages to having a single world-wide currency I can't see it ever really happening. There's just too much money to be made both on the foreign exchange markets and in currency conversions.

I worked at Citibank when the euro first came out. The bank took a huge hit because they lost that 1% currency conversion fee in transfers between the Euro countries. Bankers loathe the idea of a single currency.

[Ferd]

Originally Posted by pelathais

Despite the advantages to having a single world-wide currency I can't see it ever really happening. There's just too much money to be made both on the foreign exchange markets and in currency conversions.

I worked at Citibank when the euro first came out. The bank took a huge hit because they lost that 1% currency conversion fee in transfers between the Euro countries. Bankers loathe the idea of a single currency.

DINGDINGDINGDING!

beyond that, the Euro and the current economic stress has proven that a single currency does not provide much benefit when countered with the restrictions it places on individual nations/markets.


Spain, Ireland and a number of other Euro-zone nations would have benefitted from being free to expand/contract the amount of currency in circulation, however because they were part of a larger currency bloc, their national hands were tied and they were forced to rely on a group of nations to determine their economic fate.

single currency strategy doesn’t have near the benefit that some thought it did.

[pelathais]

Originally Posted by aegsm76

We are further down the road to a one world economic system than we were 5 years ago.
But, more work needs to be done to lower the standard of living in the larger economies to accomplish this.

Yeah, so what does this "evil system" do? It takes almost half the world's population (India & China) who had BILLIONS of people living in abject poverty barely out of the Bronze Age and they RAISE their standard of living at a rate of about 30% per year.

A rising tide lifts all boats... unless your boat is full of holes (unsustainable debt caused by socialism).

What we're seeing now is the West is learning the same lessons the commies learned in 1989.